Fubon Bank (Hong Kong), a subsidiary of Taiwan-based financial services group, Fubon Financial Holding, has received approval from the China Banking Regulatory Commission, to set up a representative office in Guangdong Province, in mainland China.
Reportedly, the bank will start the preparatory work for the setting up of the representative office. Upon the establishment of its representative office, the bank will become the first Taiwanese owned bank to operate a representative office and be well placed to serve the Taiwanese and Hong Kong business communities in Guangdong.
Jin-Yi Lee, managing director and CEO of Fubon Bank (Hong Kong), said: “We have been pursuing a two-pronged strategy in expanding our presence in the mainland, through strategic acquisition of stakes in a mainland bank and through the setting up of branches in major mainland cities where there are large Taiwanese and Hong Kong business communities.”
